Bitcoin Shelving: Analyses, Forecasts, Difficulties
Bitcoin Halving Explained – What You Need to Know
Bitcoin halving is one of the most significant events in the world of cryptocurrencies. Scheduled for April 20th, the halving involves cutting the reward for mining a block in half, which has a substantial impact on the entire network.
Difficulty Adjustments Ahead of the Upcoming Event
Prior to the Bitcoin halving, two difficulty adjustments have already taken place. The first adjustment, considered slightly negative (-1%), occurred around 9:00 GMT on March 28th. Another adjustment is planned for around April 11th, nine days before the main event.
Forecasts and Analysis
According to CryptoSlate’s analysis, there is a likelihood that post-halving, a network correction may occur, lasting approximately a month. Historical data indicates that after previous Bitcoin halvings, a correction lasting about a month typically followed.
Looking further back, during the halvings in 2012 and 2020, there were two negative difficulty adjustments, while in 2016, there was only one. Based on this, it can be predicted that after the upcoming Bitcoin halving, we may expect at least one or two negative difficulty adjustments.
Future Computing Power of the Network
By analyzing the situation up to the end of 2024, a significant increase in the computing power of the Bitcoin network is anticipated. This, in turn, should lead to increased difficulty levels and a more stable situation in the cryptocurrency market.
The expected decrease in Bitcoin difficulty prior to the upcoming halving has been thoroughly described on the CryptoSlate website, allowing for a better understanding of the mechanisms at play in this popular cryptocurrency.
